Airtel Africa Plc (OTCMKTS:AAFRF) Sees Significant Increase in Short Interest

Airtel Africa Plc (OTCMKTS:AAFRF) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 350,915 shares, an increase of 73.9% from the June 30th total of 201,786 shares. Based on an average daily volume of 2,970 shares, the days-to-cover ratio is presently 118.2 days.

Airtel Africa Price Performance

OTCMKTS AAFRF opened at C$4.59 on Friday. The business has a 50 day simple moving average of C$4.68 and a 200 day simple moving average of C$4.76. Airtel Africa has a 52-week low of C$2.57 and a 52-week high of C$5.85.

Analyst Ratings Changes

AAFRF has been the subject of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of Airtel Africa in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Airtel Africa in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Airtel Africa Company Profile

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers. The company also provides messaging, value added, enterprise, and infrastructure sharing services, as well as support services.